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Russia Coal And Oil Paid For In Yuan Starts Heading To China - Foreign Affairs - Nairaland

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China Begins Buying Russian Coal And Oil In Yuan / Russia Turns To China’s Unionpay System Amid Visa And Mastercard Departures / Nicaragua Seizes Former Taiwan Embassy To Give It To China (2) (3) (4)

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Russia Coal And Oil Paid For In Yuan Starts Heading To China by bn365: 5:19pm On Apr 08, 2022
Russian coal and oil paid for in yuan is about to start flowing into China as the two countries try to maintain their energy trade in the face of growing international outrage over the invasion of Ukraine.
Several Chinese firms used local currency to buy Russian coal in March, and the first cargoes will arrive this month, Chinese consultancy Fenwei Energy Information Service Co. said. These will be the first commodity shipments paid for in yuan since the U.S. and Europe penalized Russia and cut several of its banks off from the international financial system, according to traders.

Sellers of Russian crude have also offered to give buyers in Asia’s largest economy the flexibility to pay in yuan. The first cargoes of the ESPO grade bought with the Chinese currency will be delivered to independent refiners in May, according to people familiar with the purchases.

China has long bristled at the dollar’s dominance in global trade and the political leverage it gives the U.S. Efforts to chip away at the status quo are now being accelerated by Western steps to punish Russia for its war of aggression. Moscow is offering rupee-ruble payments to Indian oil buyers, while Saudi Arabia is in talks with Beijing to price some of its crude in yuan.


https://finance.yahoo.com/news/russian-coal-oil-paid-yuan-043249490.html
Re: Russia Coal And Oil Paid For In Yuan Starts Heading To China by Painintheass221: 5:24pm On Apr 08, 2022
Z
Re: Russia Coal And Oil Paid For In Yuan Starts Heading To China by Painintheass221: 5:25pm On Apr 08, 2022
Russia 1 USA 0

By devaluing the petrol dollar, Russia treated USA with its own cache of sanctions in one blow, thereby sending the Mighty USA into an unplanned recession and inflation.


Putin I salute you. You are the man.

7 Likes

Re: Russia Coal And Oil Paid For In Yuan Starts Heading To China by heniford2: 5:27pm On Apr 08, 2022
Is still under value its official ching and Russia are official USA enemy
Re: Russia Coal And Oil Paid For In Yuan Starts Heading To China by AlafinofEnugu(m): 5:27pm On Apr 08, 2022
cool

1 Like

Re: Russia Coal And Oil Paid For In Yuan Starts Heading To China by Kingpin1000: 5:52pm On Apr 08, 2022
What they feared is now happening.
Re: Russia Coal And Oil Paid For In Yuan Starts Heading To China by obiekunie01: 5:59pm On Apr 08, 2022
last last Americans go ever so regret voting paedo sleepy joe,

1 Like

Re: Russia Coal And Oil Paid For In Yuan Starts Heading To China by kb83(m): 6:00pm On Apr 08, 2022
I warned many about this sanctions, Now Russia is gradually finding ways out of its quagmire of sanctions. Let the West get ready for economic troubles for failing to seek a diplomatic way out of this war.
Re: Russia Coal And Oil Paid For In Yuan Starts Heading To China by gambojimeta: 6:37pm On Apr 08, 2022
Chinese people are so cunning grin

Yuan not rummbles grin

Chinese just like Indians like awoof very well. They will be buying Russian oil and gas for "buy 1 collect 5 extra" grin
Re: Russia Coal And Oil Paid For In Yuan Starts Heading To China by plaindealer: 6:43pm On Apr 08, 2022
China is honoring existing oil contracts, they've instructed their oil companies not to sign new oil contracts with Russia, so from May/Next Month, no more Russian oil for China.

China is enforcing sanctions against Russia.

1 Like

Re: Russia Coal And Oil Paid For In Yuan Starts Heading To China by Emmajn1: 7:24pm On Apr 08, 2022
gambojimeta:
Chinese people are so cunning grin

Yuan not rummbles grin

Chinese just like Indians like awoof very well. They will be buying Russian oil and gas for "buy 1 collect 5 extra" grin
rubble payments is for unfriendly countries, abeg get sense. China is not an unfriendly country to Russia

Inbetwn

I said it that US is making a big mistake by throwing up sanctions here and there. When wise people speaks, listen to them. Donald Trump cannot make such silly economic mistake of sanctioning Russia. Very soon, The US dollar value in international market would drop, not only these, US in the future would not be able to invade any country again like they did to Afghanistan, Yugoslavia etc. The power of US as a world police would drop drastically. That is what happens when a man like buhari called Joe biden is rulling USA. They act before they think.

1 Like

Re: Russia Coal And Oil Paid For In Yuan Starts Heading To China by gambojimeta: 7:30pm On Apr 08, 2022
Emmajn1:
rubble payments is for unfriendly countries, abeg get sense. China is not an unfriendly country to Russia
^^^^^^^

When a Putin zombie with extreme low IQ (next to zero) does not know that Xi.is playing Putin like a fiddle grin

Re: Russia Coal And Oil Paid For In Yuan Starts Heading To China by Emmajn1: 7:45pm On Apr 08, 2022
gambojimeta
u don't have sense o. u are bringing up propaganda news cooked up by a US Reuters while the news we just read is April 7th news indicating that Russia and China is currently transacting business without touching the USD. Watch what would happen to USD in the future. Nigeria would soon follow. Remember Nigeria was planning to also bypass the USD and purchase from China using Yuan but US diplomats are doing all they could to stop it or rather persuade Nigeria not to try that.
Re: Russia Coal And Oil Paid For In Yuan Starts Heading To China by gambojimeta: 7:56pm On Apr 08, 2022
Emmajn1:
gambojimeta
u don't have sense o. u are bringing up propaganda news cooked up by a US coy Reuters while the news we just read is April 7th news indicating that Russia and China is currently transacting business without touching the USD. Watch what would happen to USD in the future. Nigeria would soon follow. Remember Nigeria was planning to also bypass the USD and purchase from China using Yuan but US diplomats are doing all they could to stop it or rather persuade Nigeria not to try that.
REUTERS is British and established in 1851 dummy. Get that into your empty skull grin

Now:
You just skipped the Screenshot of the Chinese trading partners shey?

In addition, I just received some goods from Chin which I bought a couple of days ago. Even though I don't spend USD, the money had to be changed to USD before the merchant in China would accept it.

You think China would give up all that for some stupid Putin's war grin

There is a reason why Russia is not even on the top 10 of Russia's trading partner.
Re: Russia Coal And Oil Paid For In Yuan Starts Heading To China by bn365: 8:21pm On Apr 08, 2022
https://markets.businessinsider.com/news/commodities/dollar-vs-yuan-china-buys-russian-oil-coal-ukraine-sanctions-2022-4?op=1

plaindealer:
China is honoring existing oil contracts, they've instructed their oil companies not to sign new oil contracts with Russia, so from May/Next Month, no more Russian oil for China.

China is enforcing sanctions against Russia.

Re: Russia Coal And Oil Paid For In Yuan Starts Heading To China by plaindealer: 4:06am On Apr 09, 2022
bn365:

https://markets.businessinsider.com/news/commodities/dollar-vs-yuan-china-buys-russian-oil-coal-ukraine-sanctions-2022-4?op=1




Putin ally China rejects Russian oil despite steep discounts amid Western sanctions, report says



China is avoiding new Russian oil contracts despite steep discounts and Beijing's friendly relations with Vladimir Putin, according to a Wednesday Reuters report.

While China has refrained from penalizing Russia for its war on Ukraine, state refiners are falling in line with Beijing's recent call for caution by not signing new contracts as the West imposes sanctions.

The refiners will continue to honor existing Russian contracts, but sources told Reuters that government-run Sinopec, the largest refiner in Asia, as well as CNOOC, PetroChina, and Sinochem have all skipped on trading fresh Russian cargoes for May deliveries.

Since Washington banned Russian oil in March, Chinese refiners do not want to signal any support for Moscow, the report noted. Meanwhile, the European Union has sanctioned Russian energy giants Rosneft and Gazprom, while support is building within the EU to join the US in banning imports outright.

As Western sanctions continue to snag Russia's economy, some analysts have said Putin may increasingly turn to China to pick up the slack as an economic lifeline.

But China's apparent caution on new oil deals comes after previous signals of support for Russia. In early February, the two countries announced a "no limits" partnership.



https://markets.businessinsider.com/news/commodities/putin-ally-china-oil-deals-russia-ukraine-sanctions-sinopec-cnooc-2022-4


Read gently and comprehend.

Yes, China is currently honoring oil contracts signed before the war, but they are not signing new oil contracts because of the sanctions, Russia is free to ship their oil to China today, but starting from May/Next Month, no more Russian oil for China.

Putin's pain is not today, it's next month, next year and beyond when Russia starts lining up on the side of the road for bread.

You PoutiStans don't know anything and you only read headlines..

1 Like

Re: Russia Coal And Oil Paid For In Yuan Starts Heading To China by plaindealer: 4:08am On Apr 09, 2022
This is your oga Poutin already crying because he lost $3.6 Billion to sanctions in less than a month..

Keep posting meaningless rubbish..

Re: Russia Coal And Oil Paid For In Yuan Starts Heading To China by bn365: 5:04am On Apr 09, 2022
The same people who brought you the pandemic are deceiving and propagandizing you.
They obfuscate and lie for a reason.
By design, they force you to live in a distorted reality. Russia, according to the narrative, has been isolated.
The fog of war has obscured the facts, but the dust will settle once the sanctions take effect.
The EU/US are tying citizens up in knots with fabricated hatred for all things Russian so that when the impact on their lifestyles and wallets becomes apparent, people will bear it because they want to stick it to Russia.
Russian oil/gas is the rage right now.
The majority of people have never heard of NICKEL.
Most people who believe you get your meat, milk, veggies, and food from the grocery store but can't find their way to a farm, and farms require fertilizer, will quickly realize the significance of Russia.
They can then blame Putin and NOT GREAT RESET for their new reality. And not seeing that the globalists are deliberately making them poor, they can go to bed with a stomach full of hatred for Putin.
Why would China honor the West's sanction, when China knows they're soon to be on the chopping block?
If you believe that, I have an Ajegunle bridge for sale.
Do you hope that by posting negative things about Putin and Russia, you can make them a reality on the ground?
Wishes are not horses

https://www.bloomberg.com/news/articles/2022-04-06/yellen-says-u-s-would-use-sanctions-if-china-invaded-taiwan




plaindealer:
This is your oga Poutin already crying because he lost $3.6 Billion to sanctions in less than a month..

Keep posting meaningless rubbish..

1 Like

Re: Russia Coal And Oil Paid For In Yuan Starts Heading To China by plaindealer: 7:11am On Apr 09, 2022
bn365:
The same people who brought you the pandemic are deceiving and propagandizing you.
They obfuscate and lie for a reason.
By design, they force you to live in a distorted reality. Russia, according to the narrative, has been isolated.
The fog of war has obscured the facts, but the dust will settle once the sanctions take effect.
The EU/US are tying citizens up in knots with fabricated hatred for all things Russian so that when the impact on their lifestyles and wallets becomes apparent, people will bear it because they want to stick it to Russia.
Russian oil/gas is the rage right now.
The majority of people have never heard of NICKEL.
Most people who believe you get your meat, milk, veggies, and food from the grocery store but can't find their way to a farm, and farms require fertilizer, will quickly realize the significance of Russia.
They can then blame Putin and NOT GREAT RESET for their new reality. And not seeing that the globalists are deliberately making them poor, they can go to bed with a stomach full of hatred for Putin.
Why would China honor the West's sanction, when China knows they're soon to be on the chopping block?
If you believe that, I have an Ajegunle bridge for sale.
Do you hope that by posting negative things about Putin and Russia, you can make them a reality on the ground?
Wishes are not horses

https://www.bloomberg.com/news/articles/2022-04-06/yellen-says-u-s-would-use-sanctions-if-china-invaded-taiwan






China's trade volume with Russia is only $140 Billion

China's trade volume with the West is over $1 Trillion

Do the math if you know how to.

China's money comes from the West

Western Europe is China's largest trading partner, not Russia which doesn't manufacture anything.

China can not risk its bread and butter over one poor and dumb lunatic in Moscow.

..besides, stop arguing with me, argue with China because they are the ones enforcing sanctions against Russia, not me.

Read the news reports and if yo don't belive them, that's your problem, not mine.
Re: Russia Coal And Oil Paid For In Yuan Starts Heading To China by bn365: 8:22am On Apr 09, 2022
China, once again, refuses to bulge under pressure.
Just like Russia, China wants Taiwan and will be subjected to the same treatment if and when they take such action.

Based on your logic:
A+B=C, that is not how the world works. The world is far more complex and nuanced than that.
The trade deficit with the West should tell you the fact that the West is dependent on China.
For years, they tried to use it as a bargaining chip to persuade China to change its "human rights policies," etc.

China has 1.4 billion people who need everything Russia has to offer. India has 1.3 billion people, and together, the Eurasian alliance of these three countries accounts for nearly half of the world's population.

On the other hand, Europe produces NOTHING.
They print Euros and Dollars in order to maintain their global hegemony.
They have to keep Africa poor. They get their raw materials from there.


https://www.msn.com/en-us/news/world/china-is-challenging-nato-over-russias-ukraine-war-jens-stoltenberg/ar-AAVYvHU


plaindealer:



China's trade volume with Russia is only $140 Billion

China's trade volume with the West is over $1 Trillion

Do the math if you know how to.

China's money comes from the West

Western Europe is China's largest trading partner, not Russia which doesn't manufacture anything.

China can not risk its bread and butter over one poor and dumb lunatic in Moscow.

..besides, stop arguing with me, argue with China because they are the ones enforcing sanctions against Russia, not me.

Read the news reports and if yo don't belive them, that's your problem, not mine.



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